Nissin Foods Announces 2023 Annual Results, Net Profit Up 5.6% to HK$330.2 Million
Gross profit was HK$1,303.1 million, with gross profit margin increased by 2.0 percentage points to 34.0% in 2023 from 32.0% (restated) in 2022.
- Gross profit was HK$1,303.1 million, with gross profit margin increased by 2.0 percentage points to 34.0% in 2023 from 32.0% (restated) in 2022.
- Profit attributable to owners of the Company increased by 5.6% year-on-year to HK$330.2 million, improving the net profit margin from 7.7% (restated) in 2022 to 8.6%.
- The financial position of the Group remained healthy, with net cash of approximately HK$1,310.4 million and HK$820.0 million in available banking facilities as at 31 December 2023.
- Nissin Foods will continue to strengthen its overall competitiveness based on a well-diversified product portfolio and the premiumisation strategy.